PSF recovers stolen goods from a government vehicle
KARACHI: The Port Security Force (PSF) at Karachi Port Trust (KPT) has recovered certain stolen goods from a government vehicle No.GP-1010. The vehicle belonged to a Deputy Collector; the driver…
Customs recovers 570 grams Heroin powder from Colombo bound passenger
KARACHI: Pakistan Customs Drug Enforcement Cell – DEC, Karachi Airport Unit recovered and seized 570 grams heroin powder concealed in trolley bag and footwear of a passenger. According to details,…
PICT declares cash dividend at Rs5.0 per share
KARACHI: Pakistan International Container Terminal (PICT) has declared a cash dividend of Rs5.0 per share for the half-year ended June 30, 2014. PICT announced a profit after tax of Rs1.071…
700 grams heroin powder recovered from Colombo bound passenger
KARACHI: Pakistan Customs Drug Enforcement Cell – DEC, Karachi Airport Unit on Saturday recovered and seized 700 grams heroin powder concealed in trolley bags and laptop of a passenger. According…
FBR issues notifications to extend exemption on import of potatoes
KARACHI: In order to stabilize the prices of potatoes, the FBR issued notifications to allow extension in duty and tax free import of the vegetable. The revenue board on Friday…
PCS officers nominated for 18th Mid Career Management Course at NIMs
KARACHI: Establishment Division has issued a list of nominated officers of Pakistan Customs Service (PCS) for 18th Mid Career Management Course (MCMC) at National Institute of Management (NIM), Federal Board…
IRS officers nominated for 18th Mid Career Management Course
KARACHI: Establishment Division has issued a list of nominated officers of Inland Revenue Service (IRS) BS-18 for 18th Mid Career Management Course (MCMC) at National Institute of Management (NIM), Federal…
Shahid Hussain Asad given look-after charge of FBR chairman
ISLAMABAD: Shahid Hussain Asad has been assigned look-after charge of chairman of Federal Board of Revenue as Tariq Bajwa is on leave till August 14, 2014. In a notification issued…
No major tax reforms announced; Unrealistic FBR target major risk to fiscal deficit: SBP
KARACHI: The State Bank of Pakistan (SBP) on Saturday identified major risk to fiscal deficit target of 4.9 percent in the current fiscal year is from the revenue side as…
Finance Act 2014: explanation to taxation on bonus shares
KARACHI: The Federal Board of Revenue (FBR) on Thursday issued explanation to Finance Act 2014 regarding amendments to taxation of bonus shares. Relevant sections: clause (29) of Section 2, Section…
Finance Act 2014: FBR explains mutual funds taxation regime
KARACHI: The Federal Board of Revenue (FBR) on Thursday issued explanation to Finance Act 2014 regarding amendments in mutual funds taxation regime. Relevant sections: clause (6lA) of Section 2, clause…
Customs drug enforcement cell seizes 1-Kg light brown heroin powder
KARACHI: Pakistan Customs Drug Enforcement Cell (DEC), Jinnah International Airport Unit, Karachi has recovered and seized about one-kilogram light brown heroin powder concealed inside of two velvet car seat covers.…
Dar says Rs2.81 trillion tax revenue achievable in 2014/2015
ISLAMABAD: Finance Minister Ishaq Dar on Wednesday said that Rs2.810 trillion is achievable during the fiscal year 2014/2015 as economic indicators are showing positive trends. Addressing at the Federal Board…
FBR to provide separate revenue collection data of Customs and Inland Revenue to IMF
KARACHI: The Federal Board of Revenue (FBR) is bound to provide revenue data collected by customs and Inland Revenue separately to International Monetary Fund (IMF) within seven days of each…
Pakistan facing political challenges in broadening tax base: IMF
KARACHI: International Monetary Fund (IMF) has said that broadening of tax base in Pakistani government is facing political challenges despite initial success after convincing opposition on reforms. In the country…
0.8kg heroin seized from courier parcel
KARACHI: Pakistan Customs Drug Enforcement Cell – DEC, Karachi Airport Unit recovered and seized 800 grams heroin powder from a courier parcel at Karachi Airport. According to details, Customs DEC…
Withholding tax imported motor vehicles made mandatory at time of registration
KARACHI: The Federal Board of Revenue (FBR) has made mandatory the collection of withholding tax at the time of registration of imported vehicle. According to the Finance Act, 2014 passed…
Customs foils a bid to smuggle mobile phones into the country, makes one arrest
KARACHI: The Customs Authorities have foiled a bid to smuggle mobile phones worth Rs20 million into the country and arrested a passenger in this regard. Following the directives of Tariq…
KPT announces working hours during Ramazan
KARACHI: Karachi Port Trust (KPT) has announced the operational working hours of Wharves and Karachi Dock Labour Board (KDLB) for the month of Holy Ramazan-ul-Mubarak. According to the new schedule…
Collection of duty, taxes on June 28, 29, 30
KARACHI: The Federal Board of Revenue has notified that the authorized branches of SBP, National Bank of Pakistan (NBP), commercial banks and NIFT would remain open on June 28, 29,…